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9/27/2012 10:30AM

NFL Reaches Deal with Referees Union

Paul Vigna and Matthew Futterman discuss the end of the labor dispute between the National Football League and referees, and Emily Glazer looks at how Procter & Gamble's new CEO hopes to turn around the company. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... I ... I bet she'll Eli Manning giant all the Apple I ... never thought that he saw the defeat that God ... an awfully famous ... NFL referee ... he will be on the field this weekend as well although regular ... union ... NFL referees ... with the NFL ... after the hail Mary Muntean a debacle in Seattle ... it comes to labor agreement ... morning ... welcome to the market over to labor issues is the market story of his football story sport to ... the market story Matthew Futterman is here with us talk about it ... what a mess ... I mean what and that's really gets a complete mess it's amazing that can throw at it get to this point right ... in three weeks that Monday night football game does all her renders the fishy ... again was the Packers lost a game obviously ... thought ... the good part is right that they did how they had got bid to force the NFL to settle a deal they did late last night ... Russell couple the de tails I think the animated eke out is that for the current debt and for the current appraised anemic it pension plan ... things may change going forward we've ... had the NFL high Aries ... and its fire some to dress they wanted that freedom and flexibility ... to have what they called a deeper pain so that if there were underperform underperforming referees ... they could ... have been in place much more easily ... Tony and or stand with a wall that they wanted to do that ... it'll ultimately though they were fighting about money and ... a kick in by the time he came down to it there fighting back ... really nice to sell ... the safe handling and industry ... and they were really risking an entire integrity over back training now it's a I think I think that's the thing really said a ... person who has a reference to the referees manage keep their pension plan ... no one here ... while I got more what they wanted the NFL with the referee WiFi think anything was something of a compromise in a movie the NFL going forward will be a will to move ... I it's worthy of the movie its referees eventually will go before one can call is to ... instead of ... instead of having this outlet is he this obligation ... and going huge obligation is only a seven point one ... this is not a company with thirty thousand employees that has to get a tensions ... under control this this this is situation again with ... a name calling on people who has much to me complain about than ... we realize have a very specific skill ... and that they do a pretty good job at it as running and that ... you know there is a great deal of value to having people pour experience with the speed and pressure ... and intensity of ... again claim the highest level I mean you saw in stark terms the contrast between the of the regular referees and he's replacing rest ... and after the Monday night game I mean it's amazing how much resonance this story at ... everybody was talking about the players I mentioned that but the players went off after Monday night or on Twitter there on the radio they were being given ... your all over the place I mean very very vocal about with the problem lies with the sheer scope of the public to be there ... T J Lang one of the ... one of the hackers ... who lost the game you know he's the Tuesday ... will that go with them ... ah it was amazing how much the players were were really really just ... the no holds barred ... we're proud analysts Tuesday in the commissioner's office ... and then the officials ... were not taking the game as seriously as the fans in the play CIA and the pseudo problem ... the people who won the sport after taking ... more seriously than everybody right and ... when the fans and players as saying I'm you know you guys are turning this into a joke that's your problem especially because ... you address safety issues ... running down the road again for showing nothing crazy happened ... but I think there's a general sense that the players to get a look get away with a lot but one ... thing is to host the cutesy Iraqi cities and that that's not and this is been ... this is better known writing the Dow's staying on as Coakley a safety CDC HD ... but as absurd as that may sound of pressure football but having lived in the referees and the oceans will really look top of the deal for sandwiches flashed a picture of him ... I how big does this hurt his reputation ... I he was not a feeling of Golden boy ... this thing has been disastrous how does this affect his regret that he ate it it does set back I mean the big sound is still to come with ... a ... skinny handled the concussion plus it ... and that that that's can be a bit but also money ... that will probably be his legacy ... everything else is that of a lead up to that ... and it is at the same time ... you know they had this lockout last year ... for Senate in cost than any gains ... they knew that there may be new when it came down to their own half to make the deal before ... you know ... everything really what the pot ... and I think ... that this point in this one big question will for their disinfected crucial to fly to far Dassler Matt Futterman think you're a much appreciate the time things when we come back we'll take a look at the replacement Greff whose bad call in that Monday night game galvanize the nation ... and that's a bit ... but first let's check in with our world Stream feature here at the beest outcome all reporters on the field bringing deal almost live video really almost left the state with the Obama Tokyo ... we had made him pay no ... canning I would call a bit lol fliers this is a store ... store in Tokyo on the week a local Uniqlo among the retailer ... late eighteen am really on mashups for that they're hoping in Tokyo than in the camera ... and they can see them out on the streets handing out supplies ... Turner ... and you can see there some of the iconic products made by Procter and gamble ... the big personal product company all know ... that company under pressure to turn the shares around a hedge fund manager with the shareholders to ... pressure the company to come to ... turn it around ... improve that stock price which has been stagnant ... late like in the competition ... how do you turn around the company the size of Procter and gamble ... am leak laser is here with the story today ... Korea ... and bed and a female propping them up like her Nana thanks to this that very very big company ... you know it's all it's a big company it's that ... the the meek Staples Ryan the the the largest church and paper towels I think also that the referrals last train wreck everything we is they may like when you didn't have a growth company then how do you turn around a company ... the basement is Khona makes a steady product can put that out that we buy on the show ... great wall in our story today or were saying that ... on the hedge fund manager an activist investor Bill Ackman ... is really putting pressure on the company ... get a meeting with two board members and the CEO ... and his ... propose all wise to ship the CEO of the chairman title ... and start a CEO search ... that hasn't happened yet but we know that the CEO is on thin ice right now ... and it is bubbly fell right back up and down on the ... way and he's been around since July two thousand nine and no unfortunately that was post recession we've we've had a lot of problems than spending people are willing to pay up ... for work on Opinion products like Tide detergent ... for and if you wanna have the campers paper is there a wee is products that are lower down on the totem pole Bridal mystique is that ... he only has about one percent as the on and so he bought about one point fell one point eight billion shares ... in June and July and one percent sounds like nothing right ... I he's been rallying on the other and pastors and what we're hearing is that ... they are backing him up so ... time will tell but one person really isn't that much right now ... in any of these is the name resonates in the more it beyond a sweet old stuff I guess the real issues here we can see is is the Staples company economies bed ... but the stock is lagging behind here straight ... Unilever ... Colgate happen it's interesting because some of their hears actually run by former PNG people ... that they're using that PNG way and buisness and there ... you know they're back on its PNG but they've moved on and that's another thing we mention the story I understand that the accidents of executives from Procter Gamble lead retail ... so we're seeing a lot of that employee morale people ... are dissatisfied summer moving and I think ... rate now we've seen what the company will do and that's why it'll be very important to see how the annual meeting goes on October nine and what's next for turning ... you know he is he proposing much beyond ... splitting the chairman CEO time it seems like ... they really need much more than just a let's put the titles of only is there really a grand plan for Procter and him ... right now we're not positive that I think that will come out in the weeks and ... I think that were really looking at the cost restructuring plan ... that Procter and gamble has put the word ... and and examining to see if it'll really work or not and so as he said in an inner story part of the reason why Fi McDonald is on tonight is to see if these plans that he's put a word ... for word ... and he added that I'm a little time to see that map the fairway to go away ... yet well in ... the youth yet ... probably use the research ... it's a ... gas ... leak leave it that story think you're able to get into the bomb ... on WS J dot com on the day ... when we come back ... the bad GDP number this morning in a pretty bad durable goods report number this morning ... what does the reporter look like Kathleen Madigan of the few top ... Turner ... Yelp regulate purse and more at ... the present happier about this NFL referee deal than the players ... might feel anti clean you wonder why will ... a lot ... day Benoit my of my colleagues in the Journal cited here Stuart this story ... this great story ... reporters but to get a a a ... for a team effort ... tell us that the referee at the heart ... of the film there so I let the good of the merry ... making up ... a ... storm or yes ... so Lance Easley you see him and the end zone with his hands straight up the call email insider status at the end of the money it before yes I said number twenty six ... a replacement referee ... much maligned ... I essentially ... you know this is called a lead to the occult the stomach to do again ... aam ... is he ... really wrote about his other life as a Bank of America small business rate ... now about one of the Yemeni the Deal Journal blogger and so it turns out that the guy actually were to be that bright ... so ... from all reports nor talk a lot of people in on ... he's a nice man ... the new bikes referee allowed to use the rule to be in the NFL ... spends most this time or free preschool games ... before the feature story really Khona Highlands CTV's replacement groups of four ... and the situation they were putting me ... I reprised the school didn't bring a much slower ... lower level these guys were clearly ... no pun intended ... out of daily right now ... certainly I think it raises questions about ... the VFL really had to scramble ... when they decide to walk out the re arrests ... I and and go after these lower level people ... in two thousand won when there is a stoppage they were going to ... have ... major college ... referees coming of the guys from the SCC to ... the ... Celtics ... aam ... that's our happiness or none of the major college ... current duties yet right which I ... know you know it and it is like ... and what ... we really I mean what's his name kind of got out ... you gotta go back yet still think you're cute right it's hard to predict which I printed ... although my uni work Pakistan C1 ... it also well ... but I also believe the message is a lot of Pakistan ... mom said it ... would do if they are straight ... Eulogies ... wanted to do just that their story right right ... I feel like you know he's gotten you you will his name and am certain it was a lot of coverage and one thing I fear headline was screaming ... allegedly Seahawks pan ... we cannot affirm ... I don't think it's true ... aam ... but yet I mean he's a regular guy he's he's in his out there is helping we talk to ... someone I work with him as an of you know ... the ... last this is banker ... he know he said he really loved our business he ... he helped us get sales opportunities the help as the euro anchor America's products and ... Papa scared him be a better small business the ... plan still wanna work in Accra simple only in people can a priest and that the city manager is hometown said you know he's a great guy helps alot ... it ... the put the position and ... he made a call that ... you know maybe can to overturn a beacon demand ... and so so what what ... these guys ... now that the Libor want to settle right ... to go back to the Alliance Data assume that he is not working for them to ... sell feel so on ... you will go back to the novel full-time BankAmerica banker ... and a ... hopeful that this one ... yet ... day he will be welcoming Green Bay ... since the Heidelberg so maybe Seattle but ABC ... the deal from Sylvan Seattle but served on the prevailing so I think is a concern for its ... right to solicit ... ideas and I think you're a much a story there are really check it out very good story well written that he meant ... we got a ... pretty surprising GDP report from the second quarter we also got ... some it's a ... good number on ... the jobless claims of bed number on durables second quarter we now know was worse than we thought what is the third quarter going to look like Kathleen Madigan ... DowJones columnist and economist is here with us again I was very surprised by that second-quarter GDP debt in yesterday's delayed the third raid on GDP data on ... the onthe at the end of innocence right yes ... I last summer was one point seven ... this morning so that is the one thirty am the one point three which ... in turn quite if you had the ... honor ... a bit disturbing than was consumer spending and slower than they thought ... then ... if the pain is in Andre's contributed to last and that ... tracks back to that kept him because obviously ... Intel the harnesses and they really don't know right ... when ... by minute errands in town look like ... that and the other thing that disturbed me was ... the downward revision ... from ... from net exports that contributed to laugh ... I've been a thought a month ago ... on the plus side ... when they first came out with the it band second-quarter GDP ... they actually thought that net exports ... subtracted from growth that because foreign demand is so weak but so were summer and then with that so the first quarter GDP was two percent now we know the second quarter's one point three years ... after the deceleration ... what is the recipe on the third quarter is over a couple of days can take what we looking at for the rest of your wearers GDP ... numbers can we expect him ... to get good number ... we can see that now ... aam ... I would say it's can it be better than one point three ... I'd be shocked if that was two percent on any given rise two percent and if it is I would worry that that is income from inventory growth businesses seen demand drop off their stock with that ... with that that they don't necessarily want ... on ... big in the decline a slowdown in consumer spending was on and on the durable side ... um and we know that ... that auto sales have ... picked out we know that aam ... electronics a copy of the I pad right ... after the I phone the fact ... that so I'm not as worried about that and the fact that consumer spending really bounced up ... in September much more than economists expected ... makes me think that consumers ... aren't as worried that the situation aam but of course them ... on the deal ... over all of this with the fiscal cliff of fuel but with a solid durable goods number this morning yet ... down thirteen point two percent in August ... that was a much wider drop to anyone yet yet yet even if you go back and look it up and then four ... times before captivity had directed its ... leg and its aircraft so and that's always Balto because it's a big ticket items ... if you look it aam nondefense capital goods orders ... excluding aircraft which aam ... is the proxy well and between the lady I viewed as a proxy of how businesses in future be given up complaining capital goods orders unless they think things in ... time to do well ... that was up one point one percent ... and it says to me that businesses are sending the fiscal cliff gets resolved ... and they wanted the imposition and the start of two thousand thirteen when ... they're printed on orator ... you know we hope that though ... it bombed out their staffing ... eyes because they anticipate more demand wanted this class will ... still be decent little while more GDP report before the election right ... I guess how do you expect that to look at the end of the guys that ... can fly again I would say try one point five two percent on a ... good number it's not it's not good yet when you tailored and our demographics and productivity ... they can be if the county has potential to grow two-and-a-half percent you anything below that means we're not can it get much job growth unless they said ... people voters don't really care when GDP dynamic in ... the kid and upgrade right and and and it's the ... two more ... employment reports that would really and although this research is down at the last one below will get ... in the light of her life doesn't really have that impact in fact last time that has the biggest impact ... I know that you're right ... that we can ... find the ... right Kathleen Madigan think you very much a lot of the need to do it now that the ... that ... that is in the show folks can read a comeback in you see Wendy Bounds on Lunch Break ... for breaking news analysis opinion everything you need ... it the day there's a lot of the